As we approach the month of June, the spotlight in the cryptocurrency markets is shifting to Ethereum. However, this time, investors are not solely focused on price trends but also on Ethereum options. Data from Deribit reveals a significant concentration in June-dated Ethereum options, particularly in call options above $3,600. This suggests an anticipation of a rise in Ethereum’s price.
Increasing Interest in Call Options for Ethereum
Analysis indicates that the most popular strike price for end-of-June call options is around $6,500. This signifies that market participants foresee a substantial increase in the value of Ethereum. However, this forecast is not based solely on speculation. Stay updated with the latest financial and business news on COINTURK FINANCE.
Deribit’s open interest data shows that there are over 617,000 call contracts expiring at the end of June, with a total value exceeding $1.8 billion. These contracts clearly demonstrate that investors have faith in Ethereum’s potential to rise and aim to profit from this upward movement.
Focus on $6,500 in Ethereum Options
The cryptocurrency markets, particularly Ethereum options, have recently garnered significant attention. According to CoinShares Researcher Luke Nolan, strike prices for end-of-June call options are concentrated above $3,600, with $6,500 being the most preferred price.
Analysts point out a significant nominal value associated with the $6,500 price, specifically $192 million. This reflects the confidence of some investors that Ethereum will surpass or at least reach this level. Additionally, an analysis of the distribution of June-dated Ether options reveals that investors are targeting options above $3,600.
Put/Call Ratio
Another important indicator is the put-call ratio. Data shows an increase in the number of outstanding call options before the end of June. A put-call ratio below one indicates that the volume of call options exceeds that of put options, suggesting a bullish market trend. The current ether put-call ratio on Deribit is recorded at 0.41.
However, despite all the market activity, the price of ETH has dropped over 2% in the last 24 hours, trading at $2,912 in the morning. Similarly, the GM 30 Index, which represents the top 30 cryptocurrencies, fell by 1.61% to 128.16 during the same period.
All these data indicate that volatility in the cryptocurrency markets persists, and investors are formulating complex strategies regarding price movements. However, the number of people expecting ETH to move towards the $6,500 level is quite noticeable. Therefore, ETH’s performance in the upcoming period will be closely monitored based on activities surrounding this strike price.
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Disclaimer: The information provided in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
